Pound Sterling Price News and Forecast GBP/USD: Range bound with an eye on the BOE

FXStreet Team FXStreet

GBP/USD Weekly Forecast: Range bound with an eye on the BOE

Weak July GDP data restrains sterling and rate hike expectations. GBP/USD finishes the week on par and at the middle of three-month range. Sterling’s recovery on Thursday and Friday ended, temporarily, the threat of the GBP/USD breaking below 1.3765 support and entering the lowest part of its seven-month range. Read more...

GBP/USD fails gains near 1.3900, erases weekly gains

US dollar gains momentum near the end of the week on higher US yields. GBP/USD unable to break key resistance again; upside remains limited. The GBP/USD peaked on Friday at 1.3887, the highest level in a week, and then lost momentum. Near the end of the week, it is trading at 1.3840, around the same level it had a week ago, after erasing daily gains. Read more...

GBP/USD

Overview
Today last price	1.384
Today Daily Change	0.0004
Today Daily Change %	0.03
Today daily open	1.3836

Trends
Daily SMA20	1.3768
Daily SMA50	1.3807
Daily SMA100	1.3918
Daily SMA200	1.3823

Levels
Previous Daily High	1.3863
Previous Daily Low	1.3754
Previous Weekly High	1.3892
Previous Weekly Low	1.3731
Previous Monthly High	1.3958
Previous Monthly Low	1.3602
Daily Fibonacci 38.2%	1.3821
Daily Fibonacci 61.8%	1.3795
Daily Pivot Point S1	1.3772
Daily Pivot Point S2	1.3709
Daily Pivot Point S3	1.3663
Daily Pivot Point R1	1.3881
Daily Pivot Point R2	1.3926
Daily Pivot Point R3	1.399

GBP/USD Forecast: Consolidating gains ahead of 1.3900

The GBP/USD pair retains its latest gains and trades near a weekly high of 1.3884 set on Friday. The American dollar remains pressured, despite US government bond yields have recovered from Thursday’s plunge, with that on the 10-year Treasury note currently around 1.32%. The better performance of equities provides additional support to the pair. Read more...

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FXStreet Team

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